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LATEST INVESTMENTS


AUTOMOTIVECOMPONENTS FORDOTOSANTALKSTURKEY Ford Otosan, a joint venture between US-based automotive giant Ford and Turkey-based Koc Holdings, has announced that it will establish a commercial vehicle and battery assembly factory for electric vehicles at its automotive manufacturing site in Kocaeli, Turkey. Once completed in 2022, it is expected to produce 210,000 new-generation commercial vehicles and 130,000 batteries per year, creating 3000 new jobs.


COMMUNICATIONS PARISMOVEFOREQUINIX US-based datacentre provider Equinix is set to open its ninth data- centre in Paris, France. The 2750 sq mdata centre will have a power supply of 9.6MW. It is due to open in early 2021 and is worth an invest- ment of around $73m. It is expected to create 30 jobs.


ELECTRONICCOMPONENTS SVOLTMOVESINTOSAARLAND Svolt, a battery cell manufacturer and a division of China-based Honeycomb Energy Technology, is set to establish two factories in Saarland, Germany. The company is investing $2.3bn to build the two factories that will create 2000 jobs and be completed by the end of 2023. The factories will produce batteries totalling 24 Gigawatt hours (GWh) per year enough for 300,000 to 500,000 electric vehicles. The new factories are intended to target the European automotive industry.


FOODANDBEVERAGES LIDL’SNEWSPANISHWAREHOUSE Lidl, a grocery retailer and a subsidi- ary of Germany-based Schwarz Beteiligungs, plans to open a new 53,000 sqmwarehouse in Nanclares de la Oca, Spain. The company will invest €75m in the project, which is scheduled to launch at the end of 2021. Located in the Los Llanos industrial estate, the new site will double the company’s logistics capacity in the Basque Country and help to boost its business in the north of the country.


LOGISTICS RYANAIREXPANDSINTREVISO Ireland-based Ryanair, a budget airline company, has announced that it will invest $200m to open a new base at Venice-Treviso Airport (TFS) in Treviso, Italy. The new base will have two aircraft which will operate 45 routes connecting TFS to 20 countries across Europe. The base is due to open at the end of March 2021 and will create 60 jobs.


PHARMACEUTICALS THERMOFISHER’S ITALIANMOVE US-based Thermo Fisher Scientific, a manufacturer of medical instru- ments, has announced plans to expand its manufacturing plant in Ferentino, Italy. Part of the firm’s plans to expand its footprint in North America and Europe, it will add 15 development and cGMP commercial production lines across four sites in Italy, the UK, and the US by 2023, creating 1000 jobs.


This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of The Financial Times Ltd’s fDi Intelligence division (www.fdiintelligence.com)


STATS


EUROPE TOPCOUNTRIES FOR GREENFIELDFDI IN BIOTECH BY PROJECTNUMBER (2003-2020)


100 150 200


50 0 Source: fDi Markets February/March 2021 www.fDiIntelligence.com


EUROPE TOPCOUNTRIES FOR GREENFIELDFDI IN BIOTECH BY CAPEX (2003-2020)


0 1 2 3 4 5 6 7 8


Source: fDi Markets


Europe N


Viewfrom


otsincethe1918–1920 Spanishflupandemic


hastheworldseenahealth crisis of similarproportions toCovid-19.Asof


mid-January2021,wehaverecorded 98million infections, 2.1 million of whichendedindeath.Asshockingas thesefiguresare,wearestillalong wayoffthe500millioncasesof Spanishflu,andthe20–30million fatalitiesacenturyago. Notwanting tosound


compassionlessinthefaceofsuch tragedy, it is alsoworthlookingatthe economicdimensionsof this pandemic.Weknowthatcontraryto theSpanishflu, it is primarilytheold whodie ofCovid-19.Wealsoknowthat thosewhoareeconomically disadvantagedareatthegreatest risk of death.Butwhile it isparticularlythe old that aredying,theyoungarefacing problemsofadifferentsort.Witha severe recessionandawaveof insolvenciesonthehorizon, their start intothelabourmarket isgoingtobe evenmoredifficultthanithadbeenfor previousgenerations.Temporaryjobs, internship after internshipandlower life-earningswillbethetale ofthose enteringthelabourmarket in2021. Onamacro-level: foreign


investment flowsin2020droppedby 42%belowthat of the previousyear, andwithasecondwaveragingacross Europethereis littlehopethat numbers will pickupsoon.Compared toemergingmarketeconomies, however,Europeis inarelatively comfortable position. Stimulus packagesandquantitativeeasing softenthe blow.Emergingmarkets, hitbythesameproblems, areat the sametimealso facingrecordcapital outflows, leading to liquidity crises. Ontheupside,thereisthe


researchanddevelopmentstrength ofEuropein biotechand pharmaceuticals.BioNTech, AstraZenecaandGamaleyahave managedtobringvaccinestothe market.CuraVacandGSKareonlya stepawayfromdoingso.And companiessuchasRocheorSanofi are workingonCovid-19 treatments.So, thereis light attheendofthetunnel.■


Martin G Kaspar is head of business development at a German Mittelstand company within the auto- motive industry.


Email: martin.georg.kaspar@gmail.com 65


Project number UK GERMANY


IRELAND FRANCE BELGIUM


Capex ($bn) IRELAND


SWITZERLAND GERMANY


UK DENMARK


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